YoungAssociates serves nonprofits in a variety of fields, including arts, history, and medicine

Wealth Analysis (PDW) Clients

Note: Under leadership, we have listed the individuals we worked most closely within each organization, which sometimes is the president or director and other times may be the development staff.

Long Wharf Theatre

Long Wharf TheatreLeadership: Joan Channick, Managing Director; Jamie Gilpatrick, General Manager; Christina Montanari, Director of Development
Timeframe: 2009

Accompanying a development audit, YoungAssociates developed a wealth analysis for this Connecticut theatre and reinforced the estimation of feasibility counsel that there were more than 800 major prospects and identified an additional 2,700 prospects of high net worth. The combined audit and PDW also identified more than 800 individuals whose gifts had lapsed and an additional 500 gala donors who made no gifts to the annual fund, all potential prospects to grow the theatre’s donor base.

Baltimore Community Foundation &
Greater Baltimore Cultural Alliance

Baltimore Community FoundationGreater Baltimore Cultural AllianceLeadership: Tom Wilcox, BCF President & CEO; Nancy Haragan, GBCA Executive Director; Melissa Warlow, BCF Program Officer
Timeframe: 2007

Many members of the Greater Baltimore Cultural Alliance were feeling squeezed on both sides of income, earned and contributed, starting in 2007. In many cases, contributions were just barely meeting existing budgets. Our firm studied two of the 13 arts agencies in detail, and, in both cases, the agencies showed no growth of net assets over the last two fiscal years.

We know the fundraising technology infrastructure for organizations with operating budgets under $10 million often operates at considerable disadvantage, not just in the number of development officers but sophistication and scale to meet the trajectory of giving opportunities. Our PDW survey dramatically highlighted for the Baltimore Community Foundation the projected vulnerable state of the Baltimore mid-sized arts community funding base among individuals of high net worth. Said simply, the reach of the mid-sized organizations was too small. However, there was considerable potential for new marketing initiatives. What was abundantly clear was that without greater participation by families of means the financial growth, and possibly their future, might indeed be in the balance.

The current donor base, even anticipating reasonable growth in the years to come, was not likely to be able to meet growing financial needs without far greater effort in face-to-face meetings and a greater utilization of the tax code to maximize donor advantage to giving.

I salute you for the fine work you have done for our cultural organizations—many thanks.

Melissa Warlow
Program Officer, Baltimore Community Foundation

Shakespeare Theatre Company

Shakespeare Theatre CompanyLeadership: Michael Khan, Artistic Director; Nicholas Goldsboro, Executive Director
Timeframe: 2004-2005

In 2001, the board of the Shakespeare Theatre Company completed a strategic planning process with a decision to build a new theatre. By 2002, the District of Columbia committed $20 million toward the new theatre and work had begun on a building design and business plan. In the next year, the lead gift of $15 million from Sidney Harman had been secured, plus an additional $8 million in other gifts. In December 2003, a public announcement was made that the Theatre had raised $42,170,000 and had a goal of $60 million. A few months later, a design revision calls for the theatre to occupy five floors but, as a result of selling of six additional floors to the Union of Bricklayers and Allied Craft Workers totaling 120,000 square feet of commercial Class A office, the goal must be revised to $89 million and the upper six floors must be completed by a specific date.

YoungAssociates was retained as counsel from July 2004 through May 2005 to apply our PDW analysis of the DC metro area and redesign the campaign for the enlarged goal. What became clear in the PDW study was that due to the theatre’s new design of six additional floors, escalating materials cost, and higher land acquisition costs, the campaign would likely be $16 million short at the end of the effort. There was simply an insufficient prospect pool to meet the revised goal. We were asked to deliver this news to the lead donor, who over time committed an additional $4.5 million. Our report provided the leadership three additional years to secure the back end of the campaign with a municipal bond package and strong impetus to raise an additional $40 million. Under the able leadership of Nicholas Goldsborough and Ed Zalinski, the new theatre—Sidney Harman Hall—opened on October 1, 2007.

Kirkpatrick Foundation

Kirkpatrick FoundationLeadership: Susan McCalmont, Executive Director
Timeframe: 2003

The Kirkpatrick Foundation in 2002 had a long-standing relationship with all of the performing and visual arts organizations in and around Oklahoma City. In 2001, National Arts Strategies studied the financial conditions of the arts community. Their recommendation was that the six leading arts organizations needed a substantial capital infusion to their working capital and endowment. Working capital was below 10 percent of expenses in four of the six organizations and aggregate endowments totaled $13.5 million (118 percent of expenses).

YoungAssociates was retained by the Kirkpatrick Foundation to determine if a combined Federated Campaign could be statistically supported through our PDW wealth analysis of the six agencies combined databases. Our firms findings in support of a Federated Campaign included:

  • The combined unique households within the patron lists of the six arts organizations totaled 59,562 households; of these, 15,369 were donors with a high degree of crossover both in attendees and donors.
  • Between them, the six agencies had 400 existing donors who would be characterized as Lead and or Major Gift prospects. Of these top prospects, 80 percent were over 60 years of age.
  • We also identified 14,000 households of high net worth in Oklahoma City metro who were not on any of the organization’s lists.
More PDW clients
The Spring of Tampa Bay

The Spring of Tampa Bay

Leadership: Joanne Lighter, President & CEO
Timeframe: 2010Schooner Virginia

Schooner Virginia

Leadership: Jon Gorag, Executive Director
Timeframe: 2006

Maryland Hall for the Creative Arts

Maryland Hall for the Creative Arts

Leadership: Linnel Bowen, Executive Director
Timeframe: 2002
Study commissioned by the Mayor’s Office of the City of Annapolis and the Dept of Planning & Zoning for the city of Annapolis.